Pure One Advances Battery-Swap Trucks and Secures $3.5M Turquoise Sale Proceeds

Zero-Emission Vehicles Move From Development to Deployment

Pure One Corporation Limited (ASX:P1E) is pushing forward with its clean technology ambitions after assembling two hydrogen fuel cell 8x4 32-tonne concrete agitator trucks destined for Heidelberg Materials' Rockingham site in Western Australia. One truck is already undergoing Australian Design Rules testing ahead of operation, marking a tangible step from prototype to commercial fleet use.

Meanwhile, the company delivered an EV70 electric minibus to South West Community Transport in New South Wales, replacing diesel vehicles with accessible, zero-emission alternatives. These moves underscore Pure One’s transition from development towards real-world application of its hydrogen and electric vehicle technologies.

Battery-Swap Prime Mover and Zeus EV Van Ready for Launch

July saw the arrival in Australia of Pure One’s Alpha Series battery-swap Prime Mover and Zeus electric van, with a formal launch scheduled for 9 September 2026 at Eastern Creek. The Alpha Prime Mover targets short-distance urban and port haulage, boasting a 400 kWh CATL battery with rapid battery-swap capability designed to minimise downtime for back-to-base fleets. It delivers up to 2,600 Nm of torque and supports a 90,000 kg gross combination mass.

The Zeus van extends Pure One’s footprint into the light commercial vehicle segment, offering a 100.9 kWh battery, 408 km range, and a 1,980 kg payload. Its urban logistics and last-mile delivery focus aligns with growing fleet electrification trends.

Balance Sheet Bolstered by Turquoise Group Stake Sale

Financially, Pure One strengthened its position by completing the first tranche of its sale of a 40% interest in Turquoise Group, receiving A$3.5 million in cash. A further A$1.5 million is expected under the transaction terms, which is anticipated to generate a profit on disposal of approximately A$3.4 million. This capital injection supports Pure One’s expanding zero-emission vehicle portfolio and ongoing commercialisation efforts.

As at 30 June 2026, Pure One held A$7.3 million in cash and had undrawn credit facilities of a similar amount, providing nearly A$14.6 million in available funding. The company also reported disciplined cost management with reductions in sales, marketing, and corporate expenses during the quarter.

Energy Projects Progress in Australia and Botswana

Pure One’s strategic energy investments advanced during the quarter. Eastern Gas Corporation Limited (ASX:EGA), where Pure One holds a 69.4% stake, executed a drilling contract for its Venus appraisal program in Queensland’s Surat Basin. Field operations commenced post-quarter, focusing on the Venus-2H horizontal well to assess reservoir performance and support future development planning.

In Botswana, Botala Energy Limited (ASX:BTE) progressed its Serowe Coal Bed Methane project with the Pitse Pilot well 3.5B reaching 449 metres depth, revealing a coal seam thicker than expected. Subsequent hydraulic stimulation and controlled dewatering have begun, moving the project closer to commercial production testing.

Board and Executive Changes Signal Growth Focus

Reflecting its growth ambitions, Pure One appointed Edward Kocwa as a Non-Executive Director in July 2026. Kocwa brings deep experience in electric vehicle manufacturing and distribution, notably expanding BOSSCAP Group into a vertically integrated EV company. His appointment coincides with the retirement of Ron Prefontaine, who contributed significantly to assembling Pure One’s energy asset portfolio.

Additionally, Jeff Le Compte joined as Chief Financial Officer, bringing over 30 years of financial leadership across multiple sectors. His expertise in governance and capital markets is expected to support Pure One’s next phase of growth.